Drilling

Gazprom Neft said on Jan. 9 that its affiliate, Gazpromneft-Yamal, completed the construction of Russia’s first ever multilateral well with four horizontal cased-hole sidetracks, at its Novoportovskoye Field.

BP and Azerbaijan agreed in September to extend to 2050 the contract to develop the country’s biggest oil fields, Azeri-Chirag-Guneshli (ACG), a deal dubbed “the contract of the century” when first signed in 1994 until 2024.

The two companies recently signed a memorandum of understanding confirming their interest in further developing Evrotek-Yugra, a joint enterprise between Gazprom Neft and Repsol, according to a news release.